China's cotton reserves were estimated to stand at 5,820 bales this year, accounting for 63 percent of the world's total, the United States Department of Agriculture said in a report. A bale is a standard unit of measurement for cotton and is equivalent to approximately 226 kg. The government admitted to having “a high level of reserves” but did not divulge the exact figure. The USDA also estimated that global cotton consumption will grow by 2 percent this year, the third consecutive year

The government on Friday assured the apparel industry that it would address issues relating to skill development and availability of credit to boost garment exports. These issues came up for discussion at inter-ministerial workshop which was held here under the Chairmanship of Cabinet Secretary Ajit Kumar Seth. In the meeting, garment exporters apprised the Cabinet Secretary about the issues hindering the industry's growth. These include high interest rates, costly raw materials, lack of skil

The Govt expects textile exports would grow by 15 per cent in 2013—14 as the demand from western markets is rising, says Minister of State for Textiles Panabaaka Lakshmi. The government on Friday said it expects textile exports to grow by 15 per cent in 2013—14, marking a turnaround for such shipments that declined by 4 per cent to $ 22.2 billion during April—February last fiscal. “We hope textile exports will do better this fiscal. It is expected that these exports would grow by 15 per c

Marriage and festival season are weighing heavy on powerloom weavers in the country's biggest man-made fabric hub in the city. They are facing acute shortage of textile workers even as there is an increase in the demand for fabrics, including saris and dress materials. Most of the migrant textile workers from Bihar, Uttar Pradesh, Andhra Pradesh and Orissa have not returned from their home towns after the expiry of their leaves. Industry leaders say at least 30 per cent of workforce is yet t

Central Chairman All Pakistan Textile Mills Association (APTMA) Ahsan Bashir has apprehended industry's sustainability under threat due to unprecedented energy supply disruptions to textile industry in Punjab. At present, he said, three days a week gas supply was being made to the textile mills in Punjab against five days a week during the corresponding period last year. Similarly, the textile industry is being subjected to 14-16 hours per day loadshedding of electricity now against total exem

Cotton prices in India are expected to be steady-to-lower next week due to sluggish demand from millers, tepid exports and sales from government reserves. Buying by local millers have declined in the spot market due to the poor quality of supplies, traders said. Daily cotton supplies have been around 60,000 bales. The Cotton Corp of India (CCI) would conduct auctions on Monday, Tuesday and Wednesday of every week with around 20,000-25,000 bales to be offered in a single sale. It is likely to r

Asian prices for monoethylene glycol are expected to remain under pressure this week because of record-high inventories, in spite of China's rebounding downstream polyester market, industry sources said Monday. MEG inventory levels in China have grown to 960,000-980,000 mt as of Monday, compared with 900,000-910,000 mt a week earlier, according to sources. Market participants consider inventories of 400,000-500,000 mt as healthy. MEG is a key feedstock for polyester. Sources said China's pol

With the Mamata Banerjee government in West Bengal coming up with a draft textile policy to attract investment to revive the sector, leading industry lobbies have expressed hope that the policy roadmap would help the industry to grow significantly. States like Maharashtra and Gujarat unveiled their new textile policies last year to woo investors. "A policy was necessary. It will surely help Bengal's textile sector grow rapidly. The roadmap is also expected to ensure a higher contribution fro

A fight for supremacy is on between two textile segments in the country's biggest man-made fabric industry. Traders have unanimously decided not to pick up finished fabrics from Thursday from the units of textile processors after their refusal to collect unfinished fabrics from the textile markets due to traffic issues. Powerloom weavers deliver grey fabrics to textile markets, which are picked up by textile processors. The finished fabrics dyed and printed by the textile processors are deliver

Malaysia-based Lotte Chemical Titan, a unit of South Korea's top ethylene maker Lotte Chemical, is seeking up to 130,000 tonnes of naphtha for July 2013 to June 2014 delivery, traders said on Monday. The volumes are lower than the 200,000 tonnes of full-range naphtha it bought last year for October 2012 to September 2013 delivery at about $2 a tonne premium to Japan quotes on a cost-and-freight (C&F) basis. The tender is coming at a time when spot naphtha premiums for June cargoes have